dow chemical co/the (DOW) Key Developments
The Dow Chemical Company Presents at Susquehanna 2014 Chemical Conference, Mar-11-2014
Mar 9 14
The Dow Chemical Company Presents at Susquehanna 2014 Chemical Conference, Mar-11-2014 . Venue: Boston Harbor Hotel, 70 Rowes Wharf, Boston, MA 02110, United States.
ChemPoint EMEA B.V. Expands Marketing Relationship with The Dow Chemical Company Through Antisol Polyanionic Cellulose Polymers in Eastern Europe
Feb 20 14
ChemPoint EMEA B.V. (ChemPoint) announced that it has expanded its marketing relationship with The Dow Chemical Company (Dow) for ANTISOL(TM) Polyanionic Cellulose (PAC) Polymers in water drilling applications. Effective February 20, 2014, ChemPoint will now also provide marketing, sales, order fulfillment, and a high level of technical support to customers in Eastern Europe. ChemPoint was selected by Dow in 2012 as the primary distributor for its ANTISOL(TM) Polyanionic Cellulose (PAC) Polymers for water drilling applications in Western Europe. The use of ANTISOL(TM) helps drilling fluid properties adapt more easily to the highly differing formation demands encountered during drilling.
The Dow Chemical Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Capex Guidance for the Full Year 2014
Jan 29 14
The Dow Chemical Company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net sales of $14,386 million compared with $13,917 million for the same period a year ago, up 3%, or 4% on an adjusted basis. This is primarily due to volume gains up 3% with increases across all operating segments, excluding Feedstock and Energy, as well as all geographic areas excluding Europe, Middle East and Africa. Income before income taxes was $1,386 million compared with loss before income taxes of $850 million for the same period a year ago. Net income available for the company’s common stockholders was $963 million or $0.79 per diluted share compared with net loss available the company’s common stockholders of $716 million or $0.61 per diluted share for the same period a year ago. Capital expenditures were $884 million compared with $1,009 million for the same period a year ago. Cash flow from operations was $2.2 billion for the quarter. EBITDA was $2,325 million compared with $125 million for the same period a year ago.
For the full year, the company reported net sales of $57,080 million compared with $56,786 million for the same period a year ago. Income before income taxes was $6,804 million compared with $1,665 million for the same period a year ago. Net income available for the company’s common stockholders was $4,447 million or $3.68 per diluted share compared with $842 million or $0.70 per diluted share for the same period a year ago. Capital expenditures were $2,302 million compared with $2,614 million for the same period a year ago. Cash flow from operations was $7.8 billion. Excluding the K-Dow award, full-year cash flow from operations was more than $6 billion, representing an all time record for the company. EBITDA was $10,545 million compared with $5,591 million for the same period a year ago. The company’s fourth quarter and full year results reflect the cumulative benefit of this focus.
The company provided capex guidance for the full year 2014. The company expects 2014 to be a year of strong operating cash flow and the company will deploy a great deal of this cash to fund its higher CapEx build due to the U.S. Gulf Coast projects in particular. And capital expenditures will increase between to between $3.3 billion and $3.5 billion as the company accelerate actions to enhance the company's feedstock advantage from its U.S. Gulf Coast investments. From a cash perspective, the company anticipates its tax rate will remain in the 25% to 29% range.
Dow Chemical Announces Quarterly Dividend for the Fourth Quarter of 2013
Jan 29 14
Dow Chemical raised its quarterly dividend to 37 cents per share from 32 cents per share for the fourth quarter of 2013.
Dow Chemical Getting Interest For Chlorine Business : Andrew Liveris
Jan 29 14
The Dow Chemical Company (NYSE:DOW) has been receiving a lot of interest for its commodity chlorine business, Chief Executivge Officer, Andrew Liveris said. Dow is carving out its chlorine, chlorinated organics and epoxy resins businesses, preparing them for a sale, a joint venture or a spin-off in what could be several deals. So far, "interest has been terrific", Liveris said.